During a historic trip to the Amazon on Sunday, President Joe Biden highlighted that US bilateral climate financing reached $11 billion this year, fulfilling a key pledge.

The White House emphasised that combating climate change has been a defining aspect of President Biden’s leadership as he visited Manaus, Brazil, in the Amazon on 17th November.

Biden, the first sitting US president to visit the tropical rainforest, plans to meet Brazilian Indigenous leaders and sign a declaration to mark 17th November as International Conservation Day.

Biden highlighted that US bilateral climate financing reached $11 billion this year, six times the amount at the start of his term in 2021, making the US the largest bilateral climate finance provider globally.

The European Union remains the largest global contributor to climate financing, as it channels funds through multilateral mechanisms co-managed by developing nations.

Critics have raised concerns about the US preference for bilateral funding over multilateral approaches.

Biden’s visit to South America was his final international tour before President-elect Donald Trump, known for his climate-change scepticism, assumed office.

According to OECD data, rich nations raised $116 billion in climate finance in 2022.

A British think tank, ODI, ranked the US second to last among 23 nations for meeting its “fair share” of climate financing based on its carbon footprint, population, and national income.

President Biden’s visit to the Amazon comes between his participation in the APEC summit in Peru and the G20 summit in Rio de Janeiro, starting Monday.

Climate discussions will feature at the G20 summit as UN climate negotiations in Azerbaijan reportedly face challenges.

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